NEW YORK ( TheStreet) -- Shares of Multiband Corporation (Nasdaq: MBND) have taken a tremendous swing upward. The stock is trading at $3.46 as of 3:31 p.m. ET, 26.3% above Wednesday's closing price of $2.74. Volume is at 412,212, 2.9 times the daily average of 140,600.

Multiband has a market cap of $60.7 million and is part of the technology sector and telecommunications industry. Shares are down 3.5% year to date as of the close of trading on Wednesday.

Multiband Corporation and its subsidiaries engage in the provision of voice, data, and video services to multi-dwelling unit and single family home customers in the United States. The company operates in two segments, Home Service Provider (HSP) and Multi-Dwelling Unit (MDU). The company has a P/E ratio of 2.8, equal to the average telecommunications industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Multiband as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and poor profit margins. You can view the full Multiband Ratings Report.

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